Bankruptcy Information Overview
If you’re considering filing for bankruptcy protection, it is essential that you get advice from a bankruptcy attorney before making any final decisions!
You can file for bankruptcy protection without an attorney, but the process can be complicated.
Even if you decide to proceed without an attorney, it’s still a smart idea to talk with a bankruptcy lawyer to learn more about your rights and options.
You can arrange a free, no-obligation initial consultation with an attorney in your area today.
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To get started, all that you need to do is fill out the free bankruptcy evaluation form on this page or call toll-free 877-421-3761.
One key aspect of the bankruptcy equation is assessing your financial situation.
To begin your self-assessment, ask yourself a few questions:
- Am I heavily in debt, with little hope of clearing the debt in the near future?
- Am I experiencing a foreclosure? Or have creditors threatened to foreclose on my home?
- Is my car or other property in danger of being repossessed? Or have creditors threatened to take legal action against my property?
- Do I pay my bills late?
- Has my household income been reduced due to job loss, reduction in hours or divorce?
- Am I only making the minimum payments on my bills? Or unable to make even minimum payments?
- Have I given up basic necessities just to make ends meet?
- Have I bounced any checks in the last month?
- Are my wages currently, or in danger of, being garnished?
- Have I recently become fully or partly disabled?
After making an honest assessment of your financial circumstances, you might consider talking options with a bankruptcy attorney.
Once you decide that you want to file bankruptcy, you will need to figure out if you are eligible for a Chapter 7 filing or a Chapter 13 petition.
Your bankruptcy attorney can help determine whether Chapter 7 bankruptcy or Chapter 13 bankruptcy is more suitable for your specific situation.
A detailed examination of your finances is required, but be patient!
- If you “pass” the means test, you are eligible to file for Chapter 7.
- If you “fail” the means test, you may be eligible to file a Chapter 13 petition.
Your bankruptcy lawyer will give you the final breakdown on this issue after the number crunching has taken place.
Learning about and filing for bankruptcy does not have to be a nightmare!
There are bankruptcy attorneys who can help.
Total Lawyers is sponsored by a network of bankruptcy attorneys who can answer your bankruptcy questions.
Just complete our free bankruptcy case evaluation form or give us a call at 877-421-3761, and we’ll connect you with a bankruptcy lawyer in your area within minutes.
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Before you make any decisions, you’ll need to fully understand the differences between Chapter 7 and Chapter 13 bankruptcy and assess which would be the better option for your particular circumstances.
Generally speaking, Chapter 7 bankruptcy is a better option for debtors who have little or no property and mostly unsecured debt like credit cards.
For most debtors with regular income and a desire to keep their property and avoid mortgage foreclosure, Chapter 13 bankruptcy provides a better solution; however, individual circumstances make every case different.
Bankruptcy Lawyers In Your Area
A bankruptcy lawyer in your area can more fully explain the differences to you, and can help you decide which better fits your situation.
A bankruptcy attorney will also be able to explain the means test and how it might impact your options under the U.S. Bankruptcy Code, and help ensure that you complete the required pre- and post-filing credit counseling and debtor education courses at the right stage in your bankruptcy case.
The process doesn’t end with your discharge.
If you’re filing for bankruptcy protection, it’s more important than ever that you understand how to build good credit, how to effectively monitor your credit report, how to protect yourself against identity theft, and much more.
The bankruptcy process can be complicated, but a local bankruptcy lawyer will be familiar with the exemptions in your state and the workings of your local bankruptcy court, and will be able to guide you through the legal system.
If you’re considering bankruptcy, schedule a free consultation with a bankruptcy attorney in your area now.
There’s no obligation, so there’s no risk involved!
Get answers to your questions from a local bankruptcy lawyer and then make an informed decision about what you’ll do next!